The Dow Jones, Nasdaq and S&P 500 are all down today at the time of publishing. Indices are falling after oil prices collapsed this morning to record lows. TheStreet's Katherine Ross discussed today's breaking news in the stock market on StreetLightning with Jim Cramer.
Cramer discusses the breaking news in the stock market today including the news of Neiman Marcus potentially filing for bankruptcy, the collapse of the oil market, the cannabis stock sector and AbbVie seeing a bump if patients start to return to the hospital for elective surgery.
AbbVie and The Return of Elective Surgery
AbbVie (ABBV) - Get Report could see the stock rise as patients across America start to return to the hospital for elective surgery in areas that are flattening the curve. Cramer loves AbbVie and that they're buying Allergan (AGN) - Get Report. This is why Cramer includes Abbvie as one of his stocks to own in his Action Alerts PLUS portfolio for club members.
See what Cramer says about AbbVie on StreetLightning.
Retail Bankruptcies: Neiman Marcus
It was reported yesterday that Neiman Marcus (MCS) - Get Report expects to file for bankruptcy this week and what could this mean for other retailers during the coronavirus pandemic? Cramer expects more bankruptcies in the retail sector moving forward.
Watch how Cramer is approaching the retail sector while many stores are closed due to the quarantine.
Cannabis Sector and 4/20
Today is as good a day as ever to discuss the cannabis stock sector and what it looks like moving forward. Cramer discusses how to pick a cannabis stock today and what stock is the one to watch moving forward.
Oil Market Plummets
This morning the oil market cratered sending stocks lowered as oil fell to record lows. Cramer said he expects the recession will bring a 30% decline in demand for oil. What is the economic value of oil now? Watch the video below.
AbbVie is a key holding in Jim Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.
StreetLightning Videos With Jim Cramer:
- No Reason to Own Halliburton
- Shake Shack Lives Another Day
- How to Pick a Cannabis Stock
- Canopy Growth is a Stock to Watch in Cannabis Sector
- Paycheck Protection Program is Flawed
- Gilead News Doesn't Mean Buy The Stock
- Netflix Is a Buy